Wednesday, January 9, 2013

He got a lot right, with public choice and constitutional economics. He also got a lot quite wrong, particularly his take on the political economy of the Keynesian revolution. But he certainly was a talented and productive economsit well deserving of his Nobel prize.

Buchanan was an important figure in my intellectual development. I remember how I studied his Cost and Choice when it first came out during my senior year in college. I was so overjoyed that an economist of his stature in the profession would see merit in LSE-Austrian subjectivism. As the years went, I becaome very interested in the political philosophy of David Hume and the role of rules in society. Buchanan led the way here. I will miss him.